Buyer guide · Penang
Buying a subsale property in Penang
A subsale (resale) home is bought from its current owner: you see the actual unit, the view and the neighbours, and you can move in or rent it out within months. This guide sets out the steps, the real costs and the checks, with recorded and asking prices for the 11 Penang projects on this site.
The process
Steps to buy a subsale property
- Set your budget. Get a bank pre-assessment. Banks usually lend up to 90% for your first two properties and up to 70% from the third.
- Compare prices. Set asking prices against recorded transactions in the same building (NAPIC open data, EdgeProp, or ask Jason).
- View and check. Defects, water pressure, parking and the management office’s statement of arrears.
- Offer and earnest deposit. An offer to purchase with an earnest deposit, usually 2% to 3%, subject to contract.
- SPA and the 10% deposit. Your lawyer searches the title and the seller, then you sign the SPA and pay the balance of the 10%.
- Loan and consents. The bank values the unit. State consent is needed for foreign buyers and for some leasehold or restricted titles in Penang.
- Completion and keys. Usually 3 months from the SPA or consent, with a 1-month extension at interest; then the title is transferred and the keys handed over.
Penang rules
What applies to foreign buyers and sellers in Penang
State rules as summarised on the Penang property page; confirm the current position with your lawyer before you sign.
Minimum price, island strata: RM1 million
Foreign individuals and companies may buy a condominium or serviced apartment on Penang Island only at RM1 million or more (state guideline, in force since 1 July 2012).
Minimum price, island landed: RM3 million
Landed homes and landed strata on the island need a price of RM3 million or more, for sale agreements from 1 April 2017.
Minimum price, Seberang Perai strata: RM500,000
On the mainland the strata minimum for foreign buyers is RM500,000 from 28 April 2017. For mainland landed homes, press reports (2017–2019) give RM1 million; confirm with your lawyer.
MM2H and permanent residents
Under the state guideline, MM2H participants may buy from RM500,000 (residential only, up to two units) and permanent residents from RM250,000.
State consent from PTG Pulau Pinang
Every purchase by a foreigner needs State Authority consent, applied for through your lawyer at the Penang Land and Mines Office (Pejabat Tanah dan Galian).
State levy: 3% of the price
The approval levy is 3% of the purchase price, except island strata homes priced from RM1 million to RM1.5 million, which pay 1.5%. It must be paid within 30 days of the approval letter.
Price evidence
Recorded and asking prices in Penang
One line per project on this site, as shown on each project page. Transacted figures are deals recorded with the valuation department; asking figures are listings.
| Project | Figure | Source and date |
|---|---|---|
| Alila2 | RM1,184 psf · typical RM1,139–1,320 psf median, last 48 months | EdgeProp, viewed 2 Oct 2026 |
| Anggun Residences | RM515 psf, a 1,045 sq ft unit, Aug 2025 single recorded sale | EdgeProp project page, Oct 2026 |
| Queens Residences Q2 | RM1,136 psf · typical RM984–1,265 psf median, last 48 months | EdgeProp, viewed 2 Oct 2026 |
| Setia V Residences | RM1,475 psf · typical RM1,280–1,519 psf median, last 48 months | EdgeProp, viewed 2 Oct 2026 |
| Sky @ TriPark | about RM411 psf · range RM377–427 psf median, last 48 months | EdgeProp, Oct 2026 |
| The Tamarind | RM780 psf · typical RM714–879 psf median, last 48 months | EdgeProp, viewed 2 Oct 2026 |
| Vertu Resort | RM512 psf · typical RM469–553 psf median, last 48 months | EdgeProp, viewed 2 Oct 2026 |
Transacted figures from EdgeProp, Brickz or NAPIC as cited on each project page.
| Project | Figure | Source and date |
|---|---|---|
| Alila2 | RM1.7m–4.8m, most RM1.9m–3.6m · about RM873–1,299 psf for sale | PropertyGuru listings, Oct 2026 |
| Anggun Residences | RM518,000 – RM580,000 · about RM496–555 psf for sale (11 listings) | PropertyGuru project page, Oct 2026 |
| Arte S | RM480k–719k · about RM429–828 psf for sale | PropertyGuru listings, Oct 2026 |
| GEM Residences | RM428,000 – RM619,000 · about RM468–971 psf for sale | PropertyGuru listings, Oct 2026 |
| Queens Residences Q2 | RM900k–3m · about RM947–1,818 psf for sale | PropertyGuru, Oct 2026 |
| Royale Heights @ Tambun Royale City | From RM588,000 · about RM163–335 psf for sale (11 listings) | PropertyGuru project page, Oct 2026 |
| Setia V Residences | RM1.75m–4.1m · about RM893–1,586 psf for sale | PropertyGuru listings, Oct 2026 |
| Sky @ TriPark | from RM460,000 · about RM385–522 psf for sale, 8 listings | PropertyGuru listings, Oct 2026 |
| The Retreat Condominium | From RM360,000 · about RM291–325 psf for sale (5 listings) | PropertyGuru project page, Oct 2026 |
| The Tamarind | From about RM750,000 · 1,047 sq ft units RM790–825k for sale | PropertyGuru listings, Sep 2026 |
| Vertu Resort | From about RM480,000 · about RM415–655 psf for sale | PropertyGuru, Oct 2026 |
Asking prices from property portals in the month shown.
What it costs
Cash needed on a RM500,000 subsale home
| Item | Amount | How it is worked out |
|---|---|---|
| Down payment | RM50,000 | 10% of the price |
| Stamp duty on the transfer | RM9,000 | 1% of the first RM100,000, 2% of the next RM400,000, then 3% to RM1 million and 4% above |
| Stamp duty on a 90% loan | RM2,250 | 0.5% of the loan |
| Lawyer’s fees (SPA and loan) | about RM11,900 plus SST | Solicitors’ Remuneration Order 2023 scale |
| Valuation and disbursements | about RM1,500–3,000 | Bank valuation, searches, registration |
Illustration for a Malaysian buyer. Malaysian first-time buyers at RM500,000 or below pay no stamp duty on the transfer or loan for SPAs signed from 1 January 2026 to 31 December 2027. Foreign buyers pay 8% stamp duty on the transfer of a home from 1 January 2026. Use the buying costs calculatorCalculate my exact costs → for your numbers.
Straight answers
Frequently asked questions
Can a foreigner buy a subsale property in Penang?
Yes, if the unit meets the Penang minimum for foreign buyers (Minimum price, island strata: RM1 million) and is not a restricted unit, with state consent. Stamp duty for foreigners buying a home is 8% from 2026.
How long does a subsale purchase take?
Commonly three to four months from the SPA to the keys; longer when state consent is needed.
How much cash do I need for a RM500,000 subsale home?
About RM75,000 to RM78,000 including the 10% deposit, stamp duty and legal fees, before renovation. A Malaysian first-time buyer may save the stamp duty.
Where do I see what units really sold for?
Recorded transactions are published through NAPIC open data and summarised on EdgeProp and Brickz. The table above links each project on this site; Jason can pull the latest deals for a specific unit type.
General information by a registered agent, not legal or tax advice. Rates as published for 2026; your lawyer and LHDN have the final figure. Checked October 2026.
Looking for a subsale home in Penang?
Send your budget, area and property type. I will reply with units that fit, recorded prices and a full cost estimate.